SC Ventures, a subsidiary of Standard Chartered Bank, plans to raise $250 million for its new fund in the digital asset sector.

According to Mars Finance, citing Bloomberg, SC Ventures, the venture capital arm of Standard Chartered Plc, plans to raise funds for a $250 million fund focused on investing in digital assets within the financial services sector. Gautam Jain, a member of the SC Ventures operating team, stated on Monday during the first Money 20/20 fintech event in Riyadh that the fund is set to launch next year, supported by some investors from the Middle East, and is looking at global investments. Jain mentioned that the department also plans to launch a $100 million Africa investment fund and is considering launching its first venture debt fund, but did not specify whether these funds will also focus on digital assets or fintech. Jain also stated that this year, the department is increasing its investment in the Middle East, having launched operations in Saudi Arabia in January. Its strategy is to form a team focused on the Saudi market and to launch a domestic fund by 2026, concentrating on minority equity investments in companies and new business expansion.